Where do you get your financial and life insurance advice?

Everyone has that uncle, or best friend, who has a hot stock tip or who can get you in on the ground floor of the latest thing since the iPod. Are they right? Will they help make you financially secure? Maybe. But are you willing to risk your financial future on it?

If you’re like most people, you’ll seek out advice on investing and insurance protection from sources that you feel are trustworthy, like your bank, the expert internet sites or close family and friends. Like most things in life, each of these sources come with pros and cons that you should consider when making decisions about protecting your family’s financial future.

Let’s talk about…your bank

It would seem to be the natural place to go when looking for financial advice. But did you know that banks may not be giving you as many choices and options as an independent insurance advisor? Your bank distributes group mortgage insurance, along with a line of their own investment products that they are licensed to sell. According to a recent article in the Financial Post “Financial advisers at banks are often licensed to sell only mutual funds offered by their bank, so do not expect to hear about other mutual funds, let alone stocks, bonds or exchange-traded funds.”1 When it comes to protecting your mortgage, or investing your money, it’s important to understand all of your options before making a decision. An independent insurance advisor usually represents several companies and understands the importance of choosing the right product after an individual needs analysis.

Let’s talk about…the internet

If you’ve ever had a headache and tried to diagnose yourself by looking online, then you know how much misinformation is out there. It’s the same with financial advice. Of course, there are trusted sites you can turn to but even those may be out of date or may not give you all the information you need to make an informed decision. With an independent insurance advisor you have the opportunity to ask questions and discuss options to help make sure the choices you make are right for you.

Let’s talk about…family and friends

They mean well and no doubt they have your best interests at heart, but getting financial or protection advice from family or friends is like rolling the dice. Unless they are licensed, independent insurance advisors, the information you get may not be based in anything more than personal opinion.


When it comes to protecting your financial future and providing financial security to your loved ones, it is best to consult with a licensed and independent insurance advisor to ensure you are getting the best information possible to make informed decisions.

Before consulting with your insurance advisor, you can get a basic understanding of your protection needs with our fun and interactive My Insurance View calculator, and learn about your financial knowledge IQ with our Financial Challenge quiz.